Gary Black Explains Tesla's US EV Market Share Surge, Points to Legacy Retreat, Model Y Rejig: ‘It's Implausible

Investor Gary Black says that Tesla Inc. ‘s (NASDAQ: TSLA ) dominance over the U.S. domestic EV market could be attributed to a scaling down of EV efforts by legacy automakers, among other reasons.

Model Y Rejig Drove Higher Sales In a post on X on Sunday, the Future Fund LLC co-founder quoted a post by Tesla investor and influencer Sawyer Merritt , which referenced a Wall Street Journal article about Tesla’s market share in the U.S. EV sector.

“Correlation is not causation,” outlining “two main reasons” for Tesla’s market share growth. “ICE manufacturers significantly scaled back their EV investments in 2025 to reduce losses,” Black said, while saying that the “complete redesign of Model Y” in early 2025 was the second reason. He pointed to t...